TRENTON, N.J., December 4 – A law mandating that independent auto insurance agents give applicants many premium quotations is on its way out. And the insurance agents of the state say its about time.

The Senate recently voted to approve the bill that eliminates the requirements. The Assembly already passed the measure unanimously in June. It will now be sent to Governor Jon Corzine for enactment.

The move to get rid of the requirements was called for by the Professional Insurance Agents of New Jersey (PIANJ), and the Independent Insurance Agents and brokers of New Jersey (IIABNJ). Insurance companies also support it.

Leon Zimmerman, PIANJs legislative representative, said the requirements are no longer appropriate in todays insurance market. He said, The requirement for agents to provide quotes for all their representative companies places an unnecessary obligation on insurance agents and does not serve consumers because it fails to take into account all factors that agents consider when offering coverage options to customers.

Zimmerman said that an agent should not be required to provide a quote for a company that is facing problems, or for a company that offers the same coverage as another but at a higher premium. Zimmerman said, Insurance agents are professionals who strive to offer the best products at the best prices to their customers. They do not need to be told how to best serve the interests of their customers.

The sponsor, Assemblyman Neil Cohen (D-Union County), said in the statement to the bill, This requirement places an unnecessary obligation on insurance agents and does not serve consumers because it fails to take into account all factors that agents consider when offering coverage options to consumers. Experience has shown that it is inappropriate or impractical for an agent to provide quotations from all companies that the agent represents.

Cohen also noted that the requirement did not benefit all consumers since those who purchase automobile insurance through a direct writer company or a captive agent company are only provided with one quote for that sole company.